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7 Cards in this Set
- Front
- Back
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109 (a)
requirements of a general debtor |
- person
- resides in US - place of business in US - property in US - municipality |
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109 (b)
cannot be a debtor person under chapter 7 IF |
- it is a railroad
- a domestic insurance company - bank - savings and loan association - other domestic banking businesses/ loan businesses - foreign insurance company engaged in business in US - foreign bank, savings bank, cooperative bank, etc. |
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109 (c)
can be a debtor under chapter 9 if entity is... |
- municipality
- specifically authorized by State law to be a debtor under this title - entity is insolvent - entity desires to effect a plan to adjust debts - has obtained the agreement of creditors holding a majority of claims of each class - has negotiated with creditors (described above) in good faith and failed to obtain agreement - is unable to negotiate with creditors because it is impracticable - entitle reasonably believes that a creditor may attempt to obtain a transfer that is avoidable under section 547 |
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109 (d)
can be a debtor under chapter 11 if... |
- it is a railroad
- it is a person eligible under chapter 7 - an uninsured State member bank - corporation organized under section 25A of Federal Reserve Act |
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109 (e)
can be a debtor under chapter 13 if... |
- individual with regular income AND
- owing debts (on the date of filing) that are ** noncontingent ** liquidated ** UNSECURED ** LESS THAN $307,675 AND ** noncontingent ** liquidated ** SECURED ** LESS THAN $922, 975 - same rules for individual and spouse EXCEPT if spouse is ** stockbroker ** commodity broker |
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109 (f)
who can be a debtor under chapter 12... |
- a family farmer
- a family fisherman |
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109 (g)
when can a family farmer/fisherman NOT be a debtor under chapter 12? |
- if he has been a debtor in a case pending under this title at any time in the preceding 180 days
IF: ** case was dismissed for WILLFUL FAILURE of debtor to abide by court orders or appear in prosecution of case OR ** debtor requested and got voluntary dismissal of case following the filing of a request for relief from the automatic stay provided by section 362 of this title. |
